Question

in how many years does a sum of 24000rupees earn a simpler intrest of 2880rupees at 3%per annum​

Answer 1

Answer:

Given that ;

Principal ( P ) = Rs. 24,000

Interest ( I ) =Rs. 2,880

Rate of Interest ( R ) = 3%

Time ( T ) = ?

Formula :

Interest ( I ) = Principal × Rate of Interest × Time

I = P × R × T

2,880 = 24,000 × 3 / 100 × T

2,880 = 240 × 3 × T

T = 2,880 / 720

T = 4

Hence ;

Time ( T ) = 4 years